On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $31,000 in...
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Accounting
OnTime Delivery Company acquired an adjacent lot to construct a new warehouse, paying $ in cash and giving a shortterm note for $ Legal fees paid were $ delinquent taxes assumed were $ and fees paid to remove an old building from the land were $ Materials salvaged from the demolition of the building were sold for $ A contractor was paid $ to construct a new warehouse.
Determine the cost of the land to be reported on the balance sheet.
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